The Delaware Supreme Court on Tuesday ruled a trial court should not have allowed Appriva Medical Inc. shareholders to argue a nonbinding letter of intent affected a merger agreement with ev3 Inc., which was financially backed by Warburg Pincus, reversing a jury’s $250 million judgment against ev3 for breaching the agreement.
A Washington, D.C., federal judge on Tuesday tossed a challenge by the New York and Tennessee Republican parties to the U.S. Securities and Exchange Commissions' pay-to-play rule for investment advisers, saying judicial review of the rule lies exclusively in the federal court of appeals.
A New York federal judge on Tuesday partially certified a class of investors accusing JPMorgan Chase & Co. of falsely representing underwriting standards for $10 billion worth of mortgage-backed securities, but ruled the plaintiffs failed to show that their damages could be determined on a classwide basis.
The U.S. Securities and Exchange Commission on Tuesday got tangentially involved in activist investor Bill Ackman’s public feud with Herbalife Ltd., when it accused two people of breaking insider trading rules in the run-up to Pershing Square Management LP’s $1 billion bet against the supplement maker.
Cargill Inc. on Monday was awarded a $9 million verdict by a Nebraska federal jury in its dispute with a beef-packing company that it accused of selling it beef products tainted with E. Coli that put Cargill on the hook for $26 million in costs, including victim settlements.
News Corp. said Tuesday that it has agreed to buy online real estate network Move Inc. in an all cash deal valued at $950 million, sharing a small stake with REA Group Ltd., which is also largely owned by the media conglomerate.